Aegean Airlines says traffic, revenue up in Q1

Aegean Airlines on Monday reported a 7.0 pct increase in passenger traffic and a 4.0 pct rise in consolidated revenue to 172 million euros in the first quarter of 2019, compared with the same period last year.

Average plane capacity improved to 82.3. pct from 81.2 pct in the first quarter of 2018. Domestic passenger traffic rose 4.0 pct to 1.1 million and international traffic rose 9.0 pct to 1.4 million passengers.

The Greek airline reported net after-tax losses of 35.2 million euros in the January-March period, up from 30.8 pct in the same period last year, reflecting higher fuel cost and a decline in average fares. Cash reserves and equals totaled 552.6 million euros, boosted by the successful issuing of a 200-million-euro bond loan.

Aegean Airlines and Olympic Air reported passenger traffic of 14 million in 2018. The 2019 flight schedule covers a network of 151 destinations, 120 foreign and 31 domestic, in 44 countries.